Why Pioneer Natural Resources Tumbled More Than 10% in July
Shares of Pioneer Natural Resources (NYSE: PXD) declined by 10.6% in July, according to data provided by S&P Global Market Intelligence. Weighing on the oil stock were lower oil prices and its oil hedging program.
However, despite that decline, shares of Pioneer Natural Resources had surged 27.6% year to date through the end of July. They renewed their rally in August after the oil producer reported its second-quarter results.
Image source: Getty Images.
Source Fool.com
